Port of Duqm
With India jointly developing the Chabahar port in Iran in the vicinity, Oman is looking at developing a logistics hub connecting India-Iran-Oman as a key gateway to the Gulf and Central Asia. Given the good political relations between Iran and Oman, India is trying to establish a link between the
Duqm and Chabahar ports to boost connectivity.
Oman offers Sohar Port to India too
As the Sultanate of Oman continues to focus on economic diversification beyond its traditional petrochemical base and strives to transform itself into a major industrial and logistics centre for the region,
the Sohar Port and Freezone has come looking for investments to India. Moreover, with India jointly developing the Chabahar port in Iran in the vicinity, Oman is looking at developing a logistics hub connecting India-Iran-Oman as a key gateway to the Gulf and Central Asia.
Indian majors like the Jindal Group and L&T have a presence in the Sohar Port and Freezone apart from smaller Indian companies like the Cabrol group. In Gujarat talks were held with companies in sectors like polymers, pharmaceuticals, food processing and steel. The advantages of the Sohar Freezone includes 100 per cent foreign ownership, free repatriation of capital and profits, corporate tax holidays of up to 25 years, no personal income tax, no duty on imports and exports, no minimum capital investment, and a free trade agreement (FTA) with the US.
It seems India is expanding at breakneck speed in the Middle East. It's a win win situation!